Trust Co. of Vermont raised its position in shares of International Paper Company (NYSE:IP) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,586 shares of the basic materials company’s stock after acquiring an additional 2,094 shares during the quarter. Trust Co. of Vermont’s holdings in International Paper were worth $886,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in IP. BlackRock Inc. grew its position in shares of International Paper by 4.4% in the second quarter. BlackRock Inc. now owns 38,831,623 shares of the basic materials company’s stock valued at $2,198,257,000 after purchasing an additional 1,648,915 shares in the last quarter. Vanguard Group Inc. grew its position in shares of International Paper by 0.6% in the second quarter. Vanguard Group Inc. now owns 29,065,508 shares of the basic materials company’s stock valued at $1,645,398,000 after purchasing an additional 184,066 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of International Paper by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 7,226,283 shares of the basic materials company’s stock valued at $409,080,000 after purchasing an additional 836,888 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of International Paper by 3.8% in the first quarter. Clearbridge Investments LLC now owns 6,372,069 shares of the basic materials company’s stock valued at $323,574,000 after purchasing an additional 230,750 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of International Paper by 18.0% in the second quarter. Ameriprise Financial Inc. now owns 6,335,943 shares of the basic materials company’s stock valued at $359,118,000 after purchasing an additional 966,103 shares in the last quarter. 83.30% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on IP. Zacks Investment Research lowered International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Barclays PLC increased their price objective on International Paper from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Monday, October 30th. Vertical Research restated a “buy” rating on shares of International Paper in a research note on Friday, July 28th. Credit Suisse Group upped their price target on International Paper from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, KeyCorp restated a “hold” rating on shares of International Paper in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.73.
Shares of International Paper Company (NYSE IP) traded down $0.08 during mid-day trading on Friday, hitting $54.85. The company’s stock had a trading volume of 1,785,400 shares, compared to its average volume of 2,361,042. The stock has a market capitalization of $22,682.15, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46. International Paper Company has a 12 month low of $45.19 and a 12 month high of $58.96. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.97 and a current ratio of 1.48.
International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. International Paper had a return on equity of 27.56% and a net margin of 4.00%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. research analysts forecast that International Paper Company will post 3.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from International Paper’s previous quarterly dividend of $0.46. International Paper’s dividend payout ratio (DPR) is currently 85.25%.
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International Paper Profile
International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.
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